A development team has sold a newly built, 260-unit apartment property on Long Island for $146 million, in a deal by JLL’s Morristown-based capital markets team.
Institutional buyers, able to see past short-term uncertainty, still finding value in New Jersey
After treading lightly for much of the past year, institutional investors appear poised to accelerate their commercial real estate spending in 2021. New Jersey and other suburban markets could benefit in the near term as buyers await the return of New York City — especially in an apartment sector that is regaining its footing after stumbling during the pandemic.
